Buckeye to acquire TransMontaigne product pipeline

By the OGJ Online Staff

HOUSTON, May 21 -- Buckeye Pipe Line Co., the general partner of Buckeye Partners LP, Radnor, Pa., has signed a letter of intent to purchase TransMontaigne Inc.'s Norco product pipeline system.

The purchase includes associated storage, product distribution, and delivery facilities from Chicago, Ill, to Fort Madison, Iowa, and from Chicago to Toledo, Ohio, as well as an Indianapolis, Ind., refined products storage terminal.

William H. Shea Jr., Buckeye president and CEO, said, "The Norco pipeline system, and related terminals, are a logical extension of Buckeye's Midwest pipeline system, and will expand the scope of our operations in Ohio, Indiana, and Illinois."

Financial terms of the deal were not disclosed. The transaction is subject to a definitive agreement between the companies, approval of the directors of both companies, and regulatory approval.

TransMontaigne is based in Denver, Colo.

Related Articles

DOE approves LNG exports to non-FTA countries from Oregon project

03/24/2014 The US Department of Energy conditionally approved Jordan Cove Energy Project LP’s application to export LNG through its proposed terminal on Orego...

INGAA Foundation forecasts oil, gas infrastructure outlays to 2035

03/24/2014 An estimated $640.9 billion, or an average $29.1 billion/year, will need to be spent on US and Canadian midstream crude oil, natural gas, and natur...

Export short-sightedness

03/24/2014 Opposition by specific refiners to US exports of crude oil should surprise no one. The export ban suppresses the price of domestically produced lig...

HSC remains closed, fuel cleanup continues after barge collision

03/24/2014 The Houston Ship Channel (HSC) remained closed to unauthorized vessels Mar. 24 as the result of a temporary emergency safety zone being established...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected